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SF 2327

New Markets tax credit proposal provision, credit administration provision, and appropriation

2025-2026 Regular Session Introduced by Scott Dibble and 3 co-sponsors

SF 2327 modifies Minnesota's New Markets Tax Credit program administration and appropriates funds to incentivize private investment in economically disadvantaged communities.

Author added Hauschild
#employmentandeconomicdevelopmentdepartment #revenuedepartment #taxation
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WeVote Research Nonpartisan
Bill Summary · SF 2327

Legislative bill overview

SF 2327 proposes modifications to Minnesota's New Markets Tax Credit program, which incentivizes investment in economically disadvantaged areas. The bill includes provisions for credit administration and appears to allocate appropriations to support the program's implementation and operations.

Why is this important

The New Markets Tax Credit is a federal program that states can administer to attract private capital investment into low-income communities for business development and job creation. How Minnesota structures and funds this program affects both the availability of investment capital in underserved areas and the state budget.

Potential points of contention

  • Credit allocation and targeting: Questions about which communities qualify, whether credits are distributed equitably across urban/rural areas, and how effectiveness is measured
  • Fiscal impact: The appropriations required and whether the tax credits generate sufficient economic returns to justify state expenditures
  • Administrative complexity: New administration provisions may increase bureaucratic costs or compliance burdens for businesses seeking to participate in the program

Compiled from official sources — confirm details with the bill’s official record.

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